Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) Announces Quarterly Dividend of $0.36

Abrdn Australia Equity Fund Inc (NYSEAMERICAN:IAF) declared a quarterly dividend on Tuesday, February 10th. Stockholders of record on Friday, February 20th will be given a dividend of 0.36 per share on Tuesday, March 31st. This represents a c) annualized dividend and a dividend yield of 10.0%. The ex-dividend date is Friday, February 20th.

Abrdn Australia Equity Fund Price Performance

NYSEAMERICAN IAF traded up $0.27 during trading on Wednesday, hitting $14.46. 52,251 shares of the company’s stock traded hands, compared to its average volume of 28,669. Abrdn Australia Equity Fund has a 12-month low of $10.05 and a 12-month high of $14.54. The business has a 50 day moving average of $13.25 and a 200-day moving average of $13.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE grew its stake in Abrdn Australia Equity Fund by 64.8% in the 2nd quarter. Bank of America Corp DE now owns 12,121 shares of the company’s stock valued at $54,000 after buying an additional 4,765 shares in the last quarter. PNC Financial Services Group Inc. bought a new position in shares of Abrdn Australia Equity Fund in the fourth quarter worth $78,000. Citadel Advisors LLC purchased a new position in shares of Abrdn Australia Equity Fund in the third quarter valued at $86,000. Bridgewealth Advisory Group LLC bought a new stake in shares of Abrdn Australia Equity Fund during the 2nd quarter valued at $141,000. Finally, Shaker Financial Services LLC lifted its holdings in Abrdn Australia Equity Fund by 16.0% during the 2nd quarter. Shaker Financial Services LLC now owns 87,045 shares of the company’s stock worth $389,000 after purchasing an additional 12,000 shares in the last quarter.

About Abrdn Australia Equity Fund

Abrdn Australia Equity Fund (NYSE American: IAF) is a closed-end investment company that seeks long-term capital growth through a diversified portfolio of Australian equities. Listed on the NYSE American exchange, the fund provides U.S. and international investors with direct exposure to the Australian stock market, encompassing companies across a range of sectors including financials, materials, healthcare and consumer staples.

The fund’s investment strategy is driven by a bottom-up, fundamental research process led by abrdn’s Australia-based equity team.